LONDON (dpa-AFX) - Provident Financial Plc. (PFG.L) reported that its statutory group profit before tax for six months ended 30 June 2019 increased 8.8 percent to 37.6 million pounds from 34.6 million pounds in the year-ago period, reflecting a reduction in exceptional costs.
However, basic earnings per share declined 17.3 percent to 8.1 pence from 9.8 pence last year, due to the impact of the rights shares issued in April 2018 and due to the defence costs being treated as significantly non-tax deductible pending further analysis of the tax provision.
Adjusted profit before tax was unchanged from last year at 74.9 million pounds. However, adjusted basic earnings per share declined to 21.8 pence from 24.2 pence a year ago.
Revenue for the half year declined to 523.9 million pounds from 572.5 million pounds last year.
Provident Financial's board has recommended the payment of an interim dividend of 9.0 pence per share, compared to nil dividend in the prior year. The interim dividend will be paid on 26 September 2019 to shareholders who are on the register of members on 16 August 2019.
As previously announced, the timing of the payment of the interim dividend has been brought forward from November to September.
Looking forward to the full year, the Board confirmed that overall, the group continues to trade in line with internal plans.
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